Yes they do. They also need several other types of insurance policies.
It depends on what state you live in. I am a property manager in Minnesota and I do not have my realtor's license.
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Yes you should be bonded. You will need what they call is a surety bond. This protects you against any employee theft of customer's property.
A Property Manager is the role defined by a real estate agency and involves the rental management of a property on the agencies rent roll. An owner of the rental property employs the agency to "manage the property" and the agency employs the property manager to complete the task.
The salary of a property manager will depend on where you are located and the scope of your duties. While the average residential property manager salary is around $43K annually, commercial property managers can average $75K.
Resident Manager, Community Manager, Property Manager, Apartment Manager
No, you do not need a real estate license or a broker's license to act as a property manager for a friend in California as long as the friend does not require that licensing. You can have a written or verbal agreement to perform those services.
A property manager manages property and can request someone to leave at any time without reason.
The annual salary for a property manager depends on where you live and the company you work for. The average annual salary for a property manager in San Francisco, CA is $64,000. The nationwide average is $47,000.
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Property Manager
The average salary of a property manager can vary based upon the economy and the property market. As a property manage, you can start anywhere in the range of $50,00 - $110,000 per year. The average property manager in tour current market today makes an average of $70,00 per year.